StoreDot CEO: “We are doing what was considered impossible”

“When you look at an electric vehicle today, it is basically a battery with a bunch of software, and the battery is about half the cost of the vehicle,” said Doron Myersdorf, co-founder and CEO of StoreDot at Calcalist’s Energy conference Monday. “So, we are focused on making this battery at the same cost, but that it can charge faster. So it becomes an experience, just like fueling. If in the past, it took hours, now it will take five minutes. So the driver’s experience will be just like fueling only without the fumes.”

“We are doing what was considered impossible to do, to charge an electric vehicle or any lithium-ion battery in minutes instead of hours,” Myersdorf explained. “In order to do that, you have to work on the chemistry of the battery, and this is why we have 35 PhDs working on new materials that replace the graphite and some other components of the battery.”

StoreDot, which employs 120 people, was founded in 2012 and raised at least $130 million so far. When asked about the future of the industry, and where it is heading, Myersdorf believes we are at a crucial point. “I think we are right at the tipping point, the cost is there, the experience is amazing, the climate is becoming a top priority. So I think in the next three, four years we will see massive adoption of electric vehicles at a rate we have not seen before.”

Watch the full interview in the video above